Abbey Hill boss resigns Dzs e r:::
Page 14
If you've noticed an error in this article please click here to report it so we can fix it.
• Abbey Hill's managing director Wayne Denton has resigned from the Yeovil-based car transporter firm as speculation increases about a merger with BRS Automotive.
George Inch, marketing and distribution director of BRS Automotive, is believed to have been chosen to head the new venture, which would have around 230 transporters, 750 staff, 23 depots and a £40m turnover.
Denton, who has worked at Abbey Hill since 1986, insists that his departure at the end of this month is not connected with the talks, and that he is taking a six-month sailing break to "re-charge".
He refused to confirm how far the three-month-old talks have progressed, but they are believed to be at an advanced stage.
Abbey Hill's parent company, Causse Walon would only consider a merger if it had a majority share, says Denton.
Causse Walon is aiming for a minimum 20% share of the UK car transporter market over the next five years, he adds. So far it has about 12% following its acquisition of Abbey Hill in 1989. It also has 11 companies operating on the Continent with a fleet of about 1,700 transporters.
C=I John Hearmon, managing director of Wythall-based Autocar Transporter Group, has resigned. The firm, which was taken over by Tozer Kempsley Millburne six months ago, is believed to be making more than 15 staff redundant.
Operations director David Cartwright, who is acting managing director, would not comment on the redundancies. • Dawsongroup ended the year with a loss of Z390,000 compared with a profit of £3.14m in 1989. It blamed the slump on the worst trading conditions the group has ever experienced" in the short-term truck rental market.
Turnover fell by 6% to £.48.2m, compared with £51.25m in 1989, but the blow was cushioned by the sale of property in Bletchley which brought in more than £8m.
The group says it suffered from "over capacity in a much-reduced market". Its Volvo distributorship, while profitable, suffered a 41% downturn in new vehicle sales.